The Hindu Business Line : Tuesday, September 09, 2003

Forex assets double but earnings up a tad for RBI — High-yielding domestic assets base shrinks
THE Reserve Bank of India (RBI) is caught in a peculiar situation where it is being forced to offload relatively high interest bearing domestic assets, even while it keeps accumulating foreign currency assets yielding lower returns by the ... More

Rupee gains 4 paise
MUMBAI: The rupee closed at 45.83/84 per dollar on Monday, around four paise stronger than Friday's close of 45.87/88 in a lacklustre forex market. Forex dealers contend, that the market was largely supply driven with most market ... More

GENERAL INSURANCE

ICICI Lombard unveils `weather insurance'
The insurance premium would be decided on a case-to-case basis depending upon the geography and the risk associated. More

PUBLIC SECTOR BANKS

PSBs limit exposure to infrastructure projects
Banking sources said that absence of exit options was one of the major reasons for the slow growth in credit offtake and the consequent low credit deposit ratios. More

INTEREST RATES

Central Bank cuts rates on deposits
CENTRAL Bank of India has reduced interest rates on domestic term deposits by 25-75 basis points across maturities with effect from September 1. For deposits up to Rs 15 lakh with a maturity of 14-29 days, the new rate is 4 per cent (4.50 per ... More

Andhra Bank hikes NRE deposit rates
ANDHRA Bank has announced an upward revision in interest rates offered for the term deposits under the Non-Resident (External) (NRE) rupee accounts. In a press release here on Monday, the Andhra Bank General Manager, Mr A.L. Nageswara Rao, ... More

CREDIT CARDS & DEBIT CARDS

MasterCard launches fest in Bangalore
MASTERCARD International has launched `Win with Maestro', a four-month long festival for Maestro debit cardholders in Bangalore. Similar campaigns will be rolled out to select cities in the next four to six weeks. Two hundred merchant ... More

MERGERS & ACQUISITIONS

IDBI acquires Tata Homefin
INDUSTRIAL Development Bank of India (IDBI) today said it has taken over Tata Homefinance Ltd, a subsidiary of Tata Finance Ltd, through a 100 per cent acquisition of equity holding in the home finance company. Tata Homefinance Ltd will be ... More

EVENTS

Dept of Posts launches `finance mart' in Madurai
THE Department of Posts has launched a new scheme, `Postal Finance Mart', aimed at enhancing the patronage for its financial products. Inaugurated by the Union Minister of State for Communications and Information Technology, Mr S. ... More

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